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Brief
On "31/10/2024", the "Securities and Exchange Board of India" issued an update regarding "Adjudication order in respect of Madhu Inderlal Gerela in the matter of Trading in Illiquid Stock Options on BSE".
The Adjudication Order imposed a penalty of Rs. 5,00,000/- (Rupees Five Lakhs only) on Madhu Inderlal Gerela for violating provisions of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003 by executing non-genuine trades resulting in the creation of artificial volume.
The penalty is commensurate with the lapse/omission on the part of Madhu Inderlal Gerela.
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